In August 2024, the Ministry of Finance, led by Haddad, will form a specialized technical team to study the implementation of the development plan. Split paymentThe new electronic tax collection system provided for in the tax reform. The aim of this system is to reduce tax evasion and increase the formalities of business transactions.
To this end, representatives from banks, fintechs, online payment companies and retail entities will come together to build this new technology. The initiative, popularly called “Tax Pix,” has ambitious goals to reduce tax evasion.
What is split payment?
Hey Split payment It consists of automatically dividing the transaction value at the time of payment, with part of it going directly to the Federal Revenue Service and the Management Committee, while the rest goes to the seller. In this way, taxes are deducted immediately and automatically, ensuring greater control and transparency.
The project is scheduled to launch in 2026 and is under wide discussion among financial institutions and tax authorities. However, the institutions involved are asking for more time to develop the technology needed for the system to work efficiently.
What are the challenges of fragmented payment?
Many challenges arise in implementation. Split paymentFirst, there is the issue of the costs involved in connecting the company’s systems to the tools of the tax authorities. Furthermore, the way in which fees are collected from financial services during the tax collection process is another crucial point that requires discussion.
- Investing in technology to connect systems.
- Determine fees and charges for financial services.
- The adequacy of internal operations in companies and banks.
How will the split payment process work?
Hey Split payment The new taxes provided for in the tax reform will be linked: the Contribution on Goods and Services (CBS), at a rate of 8.8%, which will replace PIS, Cofins and IPI, and the Tax on Goods and Services (IBS), at a rate of 26.5%, which will replace ICMS and ISS.
This new system will apply to all invoice versions, regardless of the value or type of goods or services sold. The idea is for it to become an easy-to-use tool, similar to Pix, which Brazilians already use widely.
What are the benefits of split payment?
introduction Split payment It will bring many advantages, as it aims to increase the formalization of business transactions and significantly reduce the practice of tax evasion. Moreover, this model will bring greater transparency and control over tax collection.
- Reducing tax evasion.
- Increased formalities in transactions.
- Greater control and transparency in collection.
- Ease and efficiency in paying taxes.
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